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In light of estimated prints from CME Group, open interest and volume decreased by around 11.1K contracts and nearly 61.4K contracts, respectively, on Thursday. Gold: Downside looks contained Prices of the ounce troy of Gold gave some signs of exhaustion near $1,590 this week. Declining open interest and volume against the backdrop of declining prices,
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Manufacturing PMI at 50 The Australian dollar recouped early losses in today’s Asian session after China reported its manufacturing PMI at 50.0 in January, in line with expectations. It was slightly lower than December’s 50.2 print, but was the third month in a row the index avoided falling into contraction territory. AUD/USD had slid to
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Daily Markets Broadcast 2020-01-31 Wall Street boosted by Amazon, WHO declaration US indices recouped early losses to close higher yesterday following strong results from Amazon. News that the WHO had declared the coronavirus a global health emergency but stopped short of recommending travel bans, also helped sentiment. China reports January PMI data while Britain leaves
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A number of things have gone well for the Australian dollar in recent months. Even so, the currency has been strongly underperforming, particularly against the KRW, CNY, NZD, SGD and CAD, ANZ analysts noted in their FX monthly outlook.  Trade war uncertainty has lifted, if only temporarily; and copper and Yuan, have both rallied strongly.
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As reported by Reuters News, “Financial vulnerabilities like high household debt could undermine central bank efforts to keep inflation in check, since they potentially limit the effectiveness of rate cuts, a top Bank of Canada official said on Thursday.” The Deputy Governor, Paul Beaudry, was speaking today in a lecture to university students in Quebec
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The coronavirus epidemic continues to weigh on Wall Street.  170 people have died and more than 7.711 cases have been confirmed. The virus impact on Chinese industrial production and exports will likely force the PBOC’s hand into using the bazooka of stimulus they were saving in case the US-China trade war took a turn for
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Steady as she goes as Carney exits Mark Carney struck a cautious tone in his final meeting as Bank of England Governor as policy makers strongly rejected a rate cut at the first meeting of the decade. Rate cut odds had spiked in recent weeks as policy makers struck a more dovish tone against the
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OANDA Senior Market Analyst Craig Erlam explains why the spread of the Coronavirus is behind the bounce in USDCAD and considers whether it can continue higher. [embedded content] This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily
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OANDA Senior Market Analyst Craig Erlam discusses GBPUSD ahead of the Bank of England rate decision. The currency pair has come under pressure as rate cut odds have grown, can it continue to hold above 1.30? [embedded content] This article is for general information purposes only. It is not investment advice or a solution to
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Traders added nearly 24K contracts to their open interest positions on Wednesday, reversing the previous drop according to advanced data from CME Group. On the other hand, volume shrunk for the second session in a row, now by around 13K contracts. WTI does not rule out a breach of $52.00 Crude oil prices remain well
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The Nikkei falls back below the 23,000 mark Fears surrounding the coronavirus outbreak continue to reverberate across markets and risk trades are largely suffering as a result. The fact that Facebook earnings wasn’t good enough – slower growth and profits guidance – only adds oil to the risk-off fire today. US futures are down by
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Daily thread to exchange ideas and to share your thoughts Good day, everyone! Hope you’re all doing well as we get things going in the European morning session ahead. It is once again all about risk as markets continue to grapple with coronavirus concerns, with the uncertainty of the situation weighing on risk trades. Facebook earnings was
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